Offshore Wind Focus

Next steps

Our approach to strategic investment is focused on enabling an agile response to a dynamic market while putting in place mechanisms which balance the need for appropriate public spending controls that will ensure value for public money.

Funding will be deployed through the Scottish National Investment Bank and Enterprise Agencies. Building on the success of early investments like Sumitomo and Ardersier, our approach is fully focussed on delivery to drive confidence and momentum at this critical stage for the market.

The scale of the pipeline of potential investment opportunities into enabling infrastructure and supply chain opportunities is such that prioritisation of funding will be required. We will prioritise our investment, focusing on the strategic importance of projects, critical dependencies, public funding considerations, the potential economic impact of projects and the market’s view. Our approach draws on expert views and the latest feedback from offshore wind developers and investors.

Companies and investors who wish to discuss funding and investment opportunities in the offshore wind sector should engage with the Scottish National Investment Bank and the Enterprise Agencies, who are best placed to advise on what support could be available. The priorities set out in this document aim to ensure that public sector funding is allocated to strategic priorities, with the outcome of maximising the economic benefit for Scotland.

Key activity over the next 12 months:

• Continuing to work with partners to identify more early mover opportunities which will help catalyse and leverage further private investment into the offshore wind sector and the supply chain.
• Ensure that each opportunity provides excellent value for the public purse by taking an evidence-based approach to investment.
• The Scottish Government, Scottish National Investment Bank, Enterprise Agencies and Crown Estate Scotland working collaboratively with the UK Government and its institutions including the UK Infrastructure Bank and GB Energy to ensure new funding through new initiatives such as the National Wealth Fund can be mobilised quickly to address the critical need for public sector funding support over the next 2-3 years.
• Continuing to work collaboratively with the UK Government and key UK stakeholders to tackle barriers to deployment to help provide more certainty on grid connection dates and Contracts for Difference.
• Continuing to work with industry and investors to support and accelerate projects critical to the offshore wind sector in Scotland.